SINGAPORE, March 5 — Maybank Singapore will provide one-off ex-gratia payments to more than 800 junior employees in recognition of their work and to ease cost-of-living pressures, a spokesperson said.
According to Singapore’s Business Times, the payout includes S$1,250 (RM3,860) for 200 unionised executives, along with additional quarter-month bonuses for over 600 other junior staff.
Maybank Singapore employs more than 2,000 people in the city-state.
“Our employees have shown consistent dedication despite a challenging operating environment,” said Alvin Lee, country chief executive of Maybank Singapore.
“This ex-gratia payment reflects our gratitude and our commitment to supporting colleagues who are most affected by daily expenses.”
Wong Keng Fye, head of human capital, noted that the 2026 individual payout is more than double the S$500 distributed in previous years, as the bank continues to tailor assistance according to staff needs.
Other Singaporean banks have rolled out similar measures.
DBS announced a one-time S$1,000 bonus for over 23,000 junior employees globally, while UOB offered a half-month base salary payout to more than 6,000 junior staff.
The announcement comes shortly after Maybank reported a 5.7 per cent rise in fourth-quarter net profit to RM2.7 billion (S$872.4 million) for the three months ended December 31, 2025.
For the full year, Maybank’s net profit increased 4.2 per cent to RM10.5 billion, with the Singapore unit posting a 1.3 per cent rise in pre-tax profit to S$711.3 million.
